Will I always pay the maximum cost per click (CPC) in Google AdWords?

No, you will not always pay the maximum cost per click (CPC) in Google AdWords. The Google AdWords Discounter makes sure you only pay the minimum amount required to exceed the rank of the next ranked ad.

The max CPC you set with each keyword in Google AdWords is not what you’ll pay for each click of your ad; rather, it is the maximum you’re willing to pay for each click. The Google AdWords Discounter compares your max CPC bid to your competition and automatically reduces your actual cost per click so you pay the lowest price possible for your ad's position on the page. The Google AdWords Discounter ensures that you only pay the minimum amount required to exceed the rank of the next ranked ad. For this reason, you’ll often pay less than your max CPC bid, which saves you the unnecessary expense.

See: What makes people instantly click Google Ads now?